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Deductions & credits
Yes, you will have a taxable gain.
The depreciation is taxed taxed at your regular tax rate, up to 25%. The rest of the gain is usually taxed at 15% (but the 'extra' income can affect many other things on your tax return, increasing your other taxes).
The depreciation is taxed taxed at your regular tax rate, up to 25%. The rest of the gain is usually taxed at 15% (but the 'extra' income can affect many other things on your tax return, increasing your other taxes).
‎June 4, 2019
11:44 AM